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ANC Speaker Elected, Dep Spkr & President Votes To Come

SOUTH AFRICA
EM BulletHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletEmerging Market NewsPolitical Market News

Thoko Didiza of the African National Congress (ANC) has been elected as the new speaker of the National Assembly, winning 284 votes to the 49 for Veronica Mente of the extreme-left Economic Freedom Fighters (EFF). The legislature is now set to vote on the position of deputy speaker, then President of South Africa. The confirmation earlier in the day of the formation of a government of national unity (GNU) that includes the ANC, liberal Democratic Alliance (DA), regionalist Inkatha Freedom Party (IFP) and right-wing Patriotic Alliance (PA) means no surprises are expected in the coming votes.

  • For the first time since 1996, the Deputy Speaker of the National Assembly will come from a party other than the ANC. As part of the GNU agreement, the DA's Annelie Lotriet is set to win the position.
  • After this, the chamber will elect the president. Incumbent Cyril Ramaphosa, with the backing of the GNU parties, is assured another term in office.
  • Attention will now turn to the distribution of ministerial offices among the parties forming the GNU, as well as the various policy platforms the new gov't will enact. The inclusion of the liberal DA could raise market expectations of more business-friendly policies from the gov't in the months ahead.
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Thoko Didiza of the African National Congress (ANC) has been elected as the new speaker of the National Assembly, winning 284 votes to the 49 for Veronica Mente of the extreme-left Economic Freedom Fighters (EFF). The legislature is now set to vote on the position of deputy speaker, then President of South Africa. The confirmation earlier in the day of the formation of a government of national unity (GNU) that includes the ANC, liberal Democratic Alliance (DA), regionalist Inkatha Freedom Party (IFP) and right-wing Patriotic Alliance (PA) means no surprises are expected in the coming votes.

  • For the first time since 1996, the Deputy Speaker of the National Assembly will come from a party other than the ANC. As part of the GNU agreement, the DA's Annelie Lotriet is set to win the position.
  • After this, the chamber will elect the president. Incumbent Cyril Ramaphosa, with the backing of the GNU parties, is assured another term in office.
  • Attention will now turn to the distribution of ministerial offices among the parties forming the GNU, as well as the various policy platforms the new gov't will enact. The inclusion of the liberal DA could raise market expectations of more business-friendly policies from the gov't in the months ahead.